WEF: World Economic Forum: Allegations against founders Schwab baseless

The World Economic Forum (WEF) has examined anonymous allegations for alleged misconduct from its founder Klaus Schwab and has now rejected it as baseless. A law firm came to the conclusion that the now 87-year-old German had nothing to be accused of.

The foundation, which Schwab founded in 1971, is organizing the annual World Economic Forum in Davos in Switzerland. It is considered one of the most important platforms for top politicians, top managers, scientists and representatives of civil society from all over the world.

No serious misconduct

“There is no evidence of Klaus Schwab’s serious misconduct,” said the forum. “Minor irregularities, which are due to unclear boundaries between personal articles and forum activities, reflect more commitment than the intention to behave wrongly.”

Among other things, the US newspaper “Wall Street Journal” reported in the spring of alleged financial and ethical misconduct by Schwab and his wife. The organization took this seriously, Schwab had to retire immediately from the management team. He had rejected all allegations and filed a complaint against unknown persons for defamation, as he said to the dpa in early June. On request, Schwab initially did not comment on the result of the investigation.

Former Nestlé boss Peter Brabeck-Letmathe, until then deputy chairman of the WEF’s foundation council, took over the chair of Schwab. Now he steps back with immediate effect, the WEF said. André Hoffmann and Larry Fink initially take on his task. Hoffmann is one of the heirs of the pharmaceutical company Roche, Fink founder of the US investment company Blackrock.

“We look forward to shaping a more resistant and prosperous future and reinventing and strengthening the forum as an indispensable institution for the cooperation between the public and private sector,” said Hoffmann and Fink.